Porkulus must be really kicking in for Caterpillar – For the first time in 16 years Caterpillar posts a loss and cuts estimates

Caterpillar Inc., the world’s largest maker of bulldozers and excavators, posted its first quarterly net loss in 16 years and said full-year profit and sales will trail its previous forecast amid a global recession. According to Bloomberg:

The first-quarter net loss of $112 million, or 19 cents a share, compares with net income of $922 million, or $1.45, a year earlier, the Peoria, Illinois-based company said in a statement today. Revenue dropped 22 percent to $9.23 billion, and the company’s shares fell.

“The sales decline is problematic given a relatively high fixed cost base, which suggests weakness for some time,” said Joel Levington, director of corporate credit at New York-based Hyperion Brookfield Asset Management Inc.

Lets harkin back to February 12th:


No TweetBacks yet. (Be the first to Tweet this post)

Related posts:

  1. CBO estimates Senate Finance Health Care Bill Will Cost $829 Billion and will leave 25 million uninsured The CBO is expected to release the cost on the...
  2. Guess the biggest earmark in the omni-porkulus bill. $2 billion FutureGen Alliance Project of Illinois – heavily supported by Dick Durbin AND Blago! Tom Coburn proposed an amendment that would strike the largest...
  3. Obama cuts the budget! a whole 0.0029% or $100 million In a response to those “right wing extremists” at the...
  4. The average job loss per month is 4000 per Obama? Do democrats have problems with math? Nancy Pelosi claimed America...
  5. Los Angeles county welfare to kids of illegals – $48 million in June – projected to be $575 million for the 12 month period | YET Obama cuts 384 border agents Now, this is simply for Los Angeles County, so imagine...

Related posts brought to you by Yet Another Related Posts Plugin.

April 21, 2009 · Filed Under Porkulus

Share/Bookmark

Comments

One Response to “Porkulus must be really kicking in for Caterpillar – For the first time in 16 years Caterpillar posts a loss and cuts estimates”

  1. Irony: President Obama Still Tortured by Caterpillar « Quick Daily Hits (Politics and Such) on April 21st, 2009 8:41 am

    [...] Related Posts: Michelle Malkin:  How’s the stimulus working out for Caterpillar? Fire Andrea Mitchell:  Porkulus must be really kicking in for Caterpillar [...]

Lets hear your point of view! - A warning to the liberal whiners who seem intent to flood our comment section with profanity. Save your keystrokes. The anti spamming script will just automatically delete your comment. Feel free to disagree with the host on any article posted here, but flame baits, racism, and profanity laced tirades will NOT be tolerated, and will eventually get your IP address banned!




www.e-referrer.com